Setting the Sales Price

Before you set the sales price of your house, you should have a Comparative Market Analysis (CMA) done by a Real Esate expert which will show the listing price of similar houses in the area as well as the prices at which the houses actually sold.

Additionally, the analysis will give you information about houses currently on the market and about houses that were on the market but never sold.

Next, consider your goals for selling the house. Everyone who sells a house has different goals that need to be factored in when calculating the selling price.

Is your goal to get the maximum sales price for your house? If so, are you willing to have your house on the market for many months? Is your goal to sell your house quickly? If so, are you willing to sacrifice some of your potential profits to sell more quickly? Would you like to establish a balance between selling your house quickly and selling at the top end of market value?

Market conditions will play a role in setting the sales price of your house. Remember to factor in

• how quickly houses are selling in your area,
• interest rates,
• the strength of the school system, and
• finally whether it is a buyer's or seller's market.

Then you should be able to determine a price at which to list your house to meet your goals in the local market.